The electroneum ETN coin
Electroneum (ETN) The most discussed new coin. You might like to hear some stats on what actually achieved in the period up to Christmas (as reported by Richard Ells)
• over 300,000 completed Blockchain transactions involving over 2 billion ETN on our system.
• Over $290m USD of ETN has been traded on Cryptopia and the ETN price has remained around $0.08 USD
• Over 350,000 SMS messages have been delivered
• Over 50,000 new Elecrtoneum accounts have been opened since we launched the wallets.
In a very long letter sent to the ETN supporters, Richard Ells told a lot of things, made thanks to everyone and pointed out some technical issues they had in these days. We are reporting here the most important contents of the letter, so that can be useful to everybody who invested in this coin.
We understand the concerns some of you are experiencing regarding the anomaly that is causing some accounts to lock. We’re working hard to resolve this over the holidays, and we’re unlocking as fast as we possibly can. Thanks to everyone who’s taken the time to get their ID to us – rest assured we’re on it, we’ve unlocked hundreds of accounts.
Some of the outstanding transactional issues should be fixed following an update from yesterday and one from this morning, and we’ll be writing some new software to fully analyse the issues. We’ll let you know our findings as soon as we know ourselves.
and he goes on:
For now, one particular issue that may be lingering is some incorrect transaction statuses.
In short, any transaction that has not changed your balance for more than 24 hours is, essentially, considered “stuck”. Our recommendation is to check your balance – if it has remained the same, then you should try the transaction again. Please remember to check first, take a look at your balance, or the wallet you sent it to (if you have access to it – i.e. an exchange), before attempting to process the transaction again. This problem has affected a number of users but it’s only around one third of a percent of overall transactions that have been problematic. We are using the data the improve the system, and apologise for the inconvenience. No coins have been lost. If a transaction fails your coins will still be in your wallet, even if it says “pending”.
Whilst we have had some hiccups and issues, I hope you agree that we have made history within a very short space of time with what we have achieved, from the ICO through to successfully processing over 300,000 transactions. We designed the system with large scaling in mind, thinking that we’d be building up to a million or more users in a year – but now we have seen the market interest we realise just how mind-boggling the scale that is required IS! We have routes to market that expose us to over 100m users!!! We have the results of some brand new feasibility studies that have taken place over Christmas and are ready to start coding some even larger scaled systems in the New Year and will be recruiting specialists where required. Now we truly stand to establish a worldwide, recognised brand.
and the last but not last as important is regarding mobile access and mobile app:
In terms of mobile access to blockchain, we’re operating on a transactional scale that has never been achieved in this way before; we’re combining a de-centralised blockchain with a centralised mobile app, which is breaking new ground, taking cryptocurrency in a direction that no one thought possible.
For our opinion the ETN team is a good development team, maybe somehow unexperienced in this field, but a really good team who is working hard. They are aware they are working with an high potential project so they are trying to get the best. I think that all community will keep on supporting them. This coin can be a great coin in the next months. For sure this also depends on market and on many variables, but good ingredients are there all.
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